Reported 4 months ago
A Tesla shareholder has sued CEO Elon Musk for alleged insider trading, claiming he sold over $7.5 billion in shares before disappointing production and delivery numbers were made public in early 2023. The lawsuit, filed by Michael Perry in Delaware Chancery Court, accuses Musk of improperly benefiting from about $3 billion in insider profits. Musk and Tesla have not yet responded to the lawsuit, which also accuses Tesla's directors of breaching their fiduciary duty. This legal challenge adds to Musk's ongoing legal issues, including a regulatory probe related to his stock purchases in Twitter, now called X, and a separate lawsuit accusing him of defrauding X investors.
Source: YAHOO